FXstreet.com (Barcelona) - After fighting the 1.2180 level since the Asian session, the USD/CAD has begun to falls quickly last hour from 1.2182 to 1.2126, losing almost all the ground advances today.
Currently, the pair is trading around 1.2130/40 after rising 0.05% so far today from opening price at 1.2131.
Last week USD/CAD fell 0.50% from 1.2157 Monday opening price, reaching 1.2505 as April maximum and 1.2074 as intra-week minimum, to close Friday at 1.2095.
According to Nick Nasad, CMS Forex analyst, Loonie Reaches 1.2070 Level on Risk Appetite: Since we have looked at most of our Dollar crosses already, we will end with the US Dollar-Canadian Dollar pair. Like the Aussie, an increase in stocks and commodity prices today helped move the pair back to the 1.2070 level, which was lower than where the pair began the week. The Loonie is benefitting from Governor Carney's emphasize that even though he stands ready to deploy extraordinary measure including quantitative easing to help spur lending, he sees the current accommodative monetary stance as sufficient to support the underlying economy.
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